Vt International Business Test 1
questions well answered graded A+
Factors that help globalization - correct answer ✔✔ § Internet
§ Innovation in communication
§ logistics - containerization
Impediments to globalization - correct answer ✔✔ · Trade barriers
· Barriers to foreign direct investment
· Transportation costs
· Economic/political risk
· Managerial challenge for global supply chain
World Trade Organization (WTO) - correct answer ✔✔ Ensures nations adhere to treaties
General Agreement on Tariffs and Trade (GATT) - correct answer ✔✔ a 1948 agreement that
established an international forum for negotiating mutual reductions in trade restrictions
International Monetary Fund (IMF) - correct answer ✔✔ an international organization that acts
as a lender of last resort, providing loans to troubled nations, and also works to promote trade
through financial cooperation
Multinational Enterprise (MNE) - correct answer ✔✔ A firm that owns business operations in
more than one country
Disadvantages of Globalization - correct answer ✔✔ -liability of foreignness
, -loss of reputation
-loss of intellectual property
-spread of rises
-unemployment
-greater income inequality
-loss of national sovereignty
command economy - correct answer ✔✔ An economic system in which the government
controls a country's economy.
Common Law - correct answer ✔✔ A legal system based on custom and court rulings; long
contracts
Civil Law - correct answer ✔✔ A legal system based on a written code of laws; short contracts
Copyright - correct answer ✔✔ the exclusive legal right, given to an originator or an assignee to
print, publish, perform, film, or record literary, artistic, or musical material, and to authorize
others to do the same.
Trademark - correct answer ✔✔ a symbol, word, or words legally registered or established by
use as representing a company or product.
patent - correct answer ✔✔ (n.) exclusive rights over an invention; copyright
GDP - correct answer ✔✔ the total market value of all final goods and services produced
annually in an economy
GNI - correct answer ✔✔ Measure of potential foreign investment interest
questions well answered graded A+
Factors that help globalization - correct answer ✔✔ § Internet
§ Innovation in communication
§ logistics - containerization
Impediments to globalization - correct answer ✔✔ · Trade barriers
· Barriers to foreign direct investment
· Transportation costs
· Economic/political risk
· Managerial challenge for global supply chain
World Trade Organization (WTO) - correct answer ✔✔ Ensures nations adhere to treaties
General Agreement on Tariffs and Trade (GATT) - correct answer ✔✔ a 1948 agreement that
established an international forum for negotiating mutual reductions in trade restrictions
International Monetary Fund (IMF) - correct answer ✔✔ an international organization that acts
as a lender of last resort, providing loans to troubled nations, and also works to promote trade
through financial cooperation
Multinational Enterprise (MNE) - correct answer ✔✔ A firm that owns business operations in
more than one country
Disadvantages of Globalization - correct answer ✔✔ -liability of foreignness
, -loss of reputation
-loss of intellectual property
-spread of rises
-unemployment
-greater income inequality
-loss of national sovereignty
command economy - correct answer ✔✔ An economic system in which the government
controls a country's economy.
Common Law - correct answer ✔✔ A legal system based on custom and court rulings; long
contracts
Civil Law - correct answer ✔✔ A legal system based on a written code of laws; short contracts
Copyright - correct answer ✔✔ the exclusive legal right, given to an originator or an assignee to
print, publish, perform, film, or record literary, artistic, or musical material, and to authorize
others to do the same.
Trademark - correct answer ✔✔ a symbol, word, or words legally registered or established by
use as representing a company or product.
patent - correct answer ✔✔ (n.) exclusive rights over an invention; copyright
GDP - correct answer ✔✔ the total market value of all final goods and services produced
annually in an economy
GNI - correct answer ✔✔ Measure of potential foreign investment interest
